AlwaysFree: Saudi Arabia’s Advanced Petrochemical To Add Isopropanol Capacity

Saudi Arabia’s Advanced Global Investment Company (AGIC) will add a 70,000 tons/year isopropanol capacity at its project in Jubail Industrial City, according to parent company Advanced Petrochemical Company on Thursday. The project will be operated by Advanced Polyolefins Company, a joint venture between AGIC and Singapore-based SK Gas Petrochemical (SKGP), a subsidiary of South Korea’s SK Gas Co. According to Advanced Petrochemcal’s statement to the Saudi stock exchange, AGIC and SKGP have signed a shareholders’ agreement which includes the proposed IPA plant. The statement said that the project would cost $80 million. This is part of a broader $1.88-billion project that also includes PDH and PP capacities.